DP Eurasia is an exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan and Georgia.
Jubilant Foodworks Netherlands BV, a wholly owned subsidiary of food services company Jubilant FoodWorks Ltd, is set to acquire 51.16% of DP Eurasia for €73.36 million. JFN already owns 48.84% ordinary shares of DP Eurasia, which operates as an exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan and Georgia.
For funding the acquisition, JFN proposes to use a combination of an existing term loan facility availed from HSBC (which is backed by the corporate guarantee issued by the company), Jubilant FoodWorks Ltd said in a regulatory filing on Tuesday.
DP Eurasia is a public company listed with London Stock Exchange PLC. Together with its subsidiaries, it offers pizza delivery and takeaway-eat-in facilities at its 694 stores. It is the largest pizza delivery company in Turkey.
In addition to the pizza business, the group has its own coffee brand, COFFY, which trades from 67 stores, 78% of which are franchised.
Jubilant FoodWorks Ltd holds the exclusive master franchise rights to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal. Jubilant FoodWorks also has exclusive rights to develop and operate Dunkin’ restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.